EurAnalysis

Hmmm..seems some pinbar formed on last H2, may be a upward wave coming <!>

Afternoon Chaps,

After a very volatile Friday and still scratching my head, i still feel bearish about this pair and that nothing has changed in my sentiment nor my reading of my charts, not unless we break some significant levels such as 1.2440, 1.2630 and then 1.2750 I am currently under water with my shorts but can hold them till 1.28 a break of this level would give me no alternative but to close my positions in order to remain sane and within my MM and maintain a healthy A/C and still be within my risk reward ratio of 1:1 as a bear minimum, naturally these were not my best trades in regards to entry points but i will wait a little longer to see how high this pair will go and i might be able to squeeze 1 more short Of course i can also choose to go long in case the 1.2440 level is broken and this may well be the case that i will take, i have no problem in counter trading against the trend but only in severe cases where i find myself under water in my trades and the fact that its August (thin markets), consolidation expected this time of year and indecision and the preset hopium around i may find myself having to go with it rather than ignore it.

Anyway thats me for now i cant really add or say much else, like PT got to be patient now and wait and hopefully will turn around soon enough.

Good luck and green pips to all...

DailyFXTeamMember‏@DailyFXTeam10m

HEADS UP: Fed's Bernanke speaks at 13:00 GMT about economic measurement.

Rally Caps

http://hosting.fyleio.com/17735/public/Rallycap.jpg

You’ve seen baseball players do it. It’s the bottom of the ninth inning and their team is losing. To spark a comeback, they turn their hats inside-out and sport the rally cap.

Perhaps investors looking for a big upward surge after a week of down trading, got their rally Friday, as the market exploded higher on better than expected jobs data. But like the baseball player’s hats, the inside-out nature of the markets is worth a second look.

With no August action from the FOMC and the ECB failing to lay out concrete plans to support Mario Draghi’s statements, the market headed south all week. The impetus for recent rallies had NOT been good economic data or positive earnings, but the rumors or speculation of immediate Central Bank action.

So now we get a little bit of positive news, and the market explodes higher. But perhaps this is really a blip on the radar.

Just ask out friends at Zero Hedge, who are also baffled by recent market action.
http://www.zerohedge.com/news/baffle-bs-continues-non-manufacturing-ism-better-expected-employment-drops-lowest-2011

The strategy to keep everyone utterly confused and merely chasing momentum and trends continues. After the surge in the morning's NFP report, driven entirely by statistical fudging and part-time jobs, which has sent the market higher by well over 1%, we next get a Services ISM update for July according to which the US non-manufacturing sector improved modestly, to 52.6, on expectations of an unchanged print at 52.1, making the case for NEW QE even more distant. But wait; just to keep everyone totally baffled with BS, the ISM says that the employment index dipped below 50 for the first time since 2011, printing at 49.3 from 52.3. In other words, the employment in the US services sector is now contracting, something which the NFP number roundly denied. Confusion? Mutual exclusivity? It doesn't matter to algos, who are confident that the Fed will certainly launch more QE with the S&P at 2012 highs no matter what the facts say.



Trade well and follow the trend, not the so-called “experts.”

Looks like Americans want to reverse this thing. Dow & S&P futures up. Dollar index going flat.

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Editors' Picks

Don't Blame Ben Bernanke
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Today's Markets:

In Asia, Japan +2%. Hong Kong +1.7%. China +1%. India +1.3%.
In Europe, at midday, London +0.1%. Paris +0.6%. Frankfurt +0.6%.
Futures at 7:00: Dow +0.1%. S&P +0.2%. Nasdaq +0.4%. Crude -0.4% to $90.99. Gold +0.15% to $1611.70.

Today's economic calendar:
10:00 Employment Trends Index

Mario Draghi Cannot Save the Euro

from Bloomberg

waiting bernake...!
I hope up .. usd !

Right shoulder being formed on the hourly.

Sale limit @ 1.2340 .. let the shoulder complete presently in pre-mature stage

Does he think he can? he is not a politician
it's a political problem in my eyes not a financial

Europe disagrees on how to handle this problem and sooner or later they are forced to make a deal. the cracks are getting bigger and bigger.

First importanted date at the moment the 12th of september
will germany support the ESF or not. I think they will eventually
the weak euro a good for germany's export

and if the euro would break up they are stuck with a strong deutsche mark because they have a very strong economy butt his is ofcourse a big IF.

Well, 1.244 would be 2 pips below the head's hight and in this case will a valid HS, but do you think it will retest that area before it breaks the necline? Anyway I shorted @ 1.238 and will place a sell order @ 1.244 also

Hi good morning/afternoon/evening to all members,

Those whose trades are under capitalized and new traders be extra careful 'cause there will be waves of interventions and the markets are very volatiles . Movement average of 100-200 pips up and down. So don't get caught. Apply strict MM and discipline. GL and safe trading. (IMHO)

Need booster to form the other leg. GL to u and safe trading

Fed can to be booster..

...& who save their souls?

a link pls were we cand see mr. B.. THXX

Nobody needs to save their souls. They have already sold their souls to the devil.

Bernanke does NOT comment on monetary policy in his speech. No Q&A session either.

Goldman Sachs and Rothschild.